Pair Correlation Between Kraken Monero and Yobit Dogecoin

This module allows you to analyze existing cross correlation between Kraken Monero USD and Yobit Dogecoin USD. You can compare the effects of market volatilities on Kraken Monero and Yobit Dogecoin and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Kraken Monero with a short position of Yobit Dogecoin. See also your portfolio center. Please also check ongoing floating volatility patterns of Kraken Monero and Yobit Dogecoin.
 Time Horizon     30 Days    Login   to change
 Kraken Monero USD  vs   Yobit Dogecoin USD


Monero on Kraken in USD
13.77  3.83%
Market Cap: 859.8 M


Dogecoin on Yobit in USD
0.000047  0.52%
Market Cap: 303.1 K
 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Kraken Monero is expected to generate 27.93 times less return on investment than Yobit Dogecoin. But when comparing it to its historical volatility, Kraken Monero USD is 1.63 times less risky than Yobit Dogecoin. It trades about 0.01 of its potential returns per unit of risk. Yobit Dogecoin USD is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest  0.76  in Yobit Dogecoin USD on December 21, 2017 and sell it today you would earn a total of  0.14  from holding Yobit Dogecoin USD or generate 18.65% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between Kraken Monero and Yobit Dogecoin


Time Period1 Month [change]
ValuesDaily Returns


Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Kraken Monero USD and Yobit Dogecoin USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Yobit Dogecoin USD and Kraken Monero is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Kraken Monero USD are associated (or correlated) with Yobit Dogecoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yobit Dogecoin USD has no effect on the direction of Kraken Monero i.e. Kraken Monero and Yobit Dogecoin go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

Kraken Monero USD


Risk-Adjusted Performance

Over the last 30 days Kraken Monero USD has generated negative risk-adjusted returns adding no value to investors with long positions.

Kraken Monero USD

Pair trading matchups for Kraken Monero

Yobit Dogecoin USD


Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Yobit Dogecoin USD are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

Yobit Dogecoin USD

Pair trading matchups for Yobit Dogecoin